Enterprise Products Partners (NYSE:EPD) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Enterprise Products Partners (NYSE:EPD) from a hold rating to a buy rating in a research report sent to investors on Monday.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Enterprise Products Partners from $35.00 to $39.00 and gave the company a “neutral” rating in a research note on Tuesday, March 10th. Citigroup reaffirmed a “buy” rating and set a $39.00 price objective (up from $36.00) on shares of Enterprise Products Partners in a research note on Wednesday, February 4th. TD Cowen upped their price objective on shares of Enterprise Products Partners from $33.00 to $34.00 and gave the company a “hold” rating in a research note on Wednesday, February 4th. Barclays upped their price objective on shares of Enterprise Products Partners from $38.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, March 5th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.73.

Enterprise Products Partners Trading Up 0.7%

NYSE EPD opened at $37.83 on Monday. Enterprise Products Partners has a 12 month low of $27.77 and a 12 month high of $39.74. The company has a 50-day moving average of $36.55 and a 200-day moving average of $33.46. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.04 and a quick ratio of 0.74. The company has a market cap of $81.78 billion, a P/E ratio of 14.22, a P/E/G ratio of 1.50 and a beta of 0.55.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Monday, February 2nd. The oil and gas producer reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.33%. The company had revenue of $13.79 billion during the quarter, compared to the consensus estimate of $12.44 billion. During the same quarter in the prior year, the company posted $0.74 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, equities analysts predict that Enterprise Products Partners will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were given a dividend of $0.55 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, January 30th. This represents a $2.20 dividend on an annualized basis and a yield of 5.8%. Enterprise Products Partners’s dividend payout ratio is currently 82.71%.

Insider Transactions at Enterprise Products Partners

In other Enterprise Products Partners news, CEO Aj Teague bought 2,665 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The stock was purchased at an average price of $37.55 per share, with a total value of $100,070.75. Following the transaction, the chief executive officer owned 77,576 shares in the company, valued at $2,912,978.80. This trade represents a 3.56% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 32.60% of the company’s stock.

Institutional Trading of Enterprise Products Partners

Institutional investors and hedge funds have recently bought and sold shares of the business. Tred Avon Family Wealth LLC purchased a new position in Enterprise Products Partners in the 3rd quarter worth approximately $1,015,000. Tectonic Advisors LLC boosted its holdings in Enterprise Products Partners by 10.0% in the 3rd quarter. Tectonic Advisors LLC now owns 678,769 shares of the oil and gas producer’s stock worth $21,225,000 after acquiring an additional 61,669 shares during the period. Advisors Asset Management Inc. boosted its holdings in Enterprise Products Partners by 20.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 229,911 shares of the oil and gas producer’s stock worth $7,189,000 after acquiring an additional 38,660 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Enterprise Products Partners by 3.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,252,088 shares of the oil and gas producer’s stock worth $39,153,000 after acquiring an additional 36,339 shares during the period. Finally, Corient Private Wealth LLC boosted its holdings in Enterprise Products Partners by 118.9% in the 2nd quarter. Corient Private Wealth LLC now owns 2,407,544 shares of the oil and gas producer’s stock worth $74,658,000 after acquiring an additional 1,307,485 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.